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E-Wallet Payment Processing

E-WALLET PAYMENT PROCESSING •000 Please pay: $43 52 WHAT BUSINESS OWNERS NEED TO KNOW Consumers are trading in their physical wallets for digital ones, and savvy businesses can gain a competitive edge by offering e-wallet payment processing. As retailers look for new convenient ways to help customers spend money, virtual wallets are increasingly accepted at brick-and-mortar stores. Find out what you could gain by accepting e-wallet payments. HOW E-WALLETS WORK 2 LOGIN +$ During transaction, Customer creates e-wallet and loads it with NFC technology transmits payment info to provider Provider transfers payment into merchant's account customer can: • Select e-wallet option for online purchase • Scan smartphone at NFC enabled register digital funds IS E-WALLET RIGHT FOR YOUR BUSINESS? Accepting e-wallet payment is most likely to benefit you if: 50% Your target audience includes likely adopters At least 50% of your web traffic comes from mobile devices 70% 55% 89% T 21.9% of mobile payment users have e-wallets of mobile payments are made by smartphone owners 18-34 years Moms account for more than 70% of household spending ... and 89% say they're glued to their smartphones WHICH E-WALLET PROVIDERS ARE COMPATIBLE WITH NFC? APPLE PAY GOOGLE WALLET 1 MILLION USERS More than 1 million users signed up for Apple Pay within three days of launch 220,000 RETAILERS More than 220,000 retailers accept Google Wallet-about 10% of all merchants in the U.S. 2 |3 10% 400% INCREASE WHOLE FOODS 1 IN 5 ANDROID Whole Foods saw a more than 400% increase in mobile payments within a year of adding Apple Pay users have downloaded the Google Wallet app ANDROID PAY SAMSUNG PAY 700,000 U.S. stores accept Android Pay $30 MILLION Retailers processed 1.5 million Samsung Pay transactions-worth TRANSACTIONS $30 million-in its first month 1.5 MILLION 10% USE IT EVERY DAY Of the Samsung users who have tried it, 10% use it every day WHY ACCEPT E-WALLET PAYMENTS? E-wallet payments are growing $ Mobile money will be a U.S. mobile payments alone will reach $142 billion by 2019 $721 BILLION market by 2017 REMOTE PAYMENTS IN-PERSON PAYMENTS with 450 MILLION USERS PEER-TO-PEER TRANSFERS 50% of all U.S. digital commerce revenue will come from mobile by 2017 Consumers will spend $1.7 BILLION from their e-wallets in 2017 2014 2015 2016 2017 2018 2019 (IN MILLIONS) Nearly one in three consumers have used a digital wallet 5% 133% of the world's NFC-enabled phones are used at least once a month to make a contactless Some retailers have increased sales payment at a retail outlet-a 1,000% increase over 2014 conversions by as much as 33%- just by accepting e-wallet payments USERS SAY E-WALLETS MAKE THEIR BUYING EXPERIENCE 45% 39% 30% CONVENIENT EASY SIMPLE PROS FOR BUSINESSES: BARRIERS FOR CONSUMERS: Faster Competitive edge Security concerns Don't know enough transactions 37% 19% Never needed one Customer satisfaction Promotions and loyalty programs can be integrated 24% Demographic tracking READY FOR A TRIAL RUN? Give e-wallet payment processing a try with a free Apple Pay and EMV-ready terminal from BankCard Brokers. Learn more: BANKCARD +BROKERS © 2015 BankcardBrokers Infographic designed by Mad Fish Digital SOURCES: MasterCard, Wikipedia, Statista, Gartner, PayPal, Electronic Transactions Association, CashStar, Internet Retailer, Macworld,, Mashable, CIO, The Guardian, CNET $42,555 $53,141 ZEL'ES | $5,255 $63,351 $6,815 80E'LS $72,269 |$10,451 $9,614 $81,349 | $16,240 $11,899 $90,680 $23,472 $14,428 $34,160 $16,833

E-Wallet Payment Processing

shared by brettbankcard on Nov 22
As mobile becomes more popular and user-friendly, consumer purchasing trends are expanding beyond physical wallets and plastic cards. Customers are now able to utilize their mobile devices to pay for ...


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